Gem Aromatics IPO Live Updates: Check Day Three Subscription Status, GMP, Other Details

Gem Aromatics IPO: Gem Aromatics Ltd.'s initial public offer has been subscribed 3.22 times on day two. It is is a book-built issue worth Rs 451.25 crore. The mainboard issue comprises a fresh issue of 54 lakh shares, totalling Rs 175 crore, and an offer-for-sale component of 85 lakh shares, worth Rs 276.25 crore.

• IPO opens: Aug. 19

• IPO closes: Aug. 21

• Issue size: 1.39 crore shares

• Fresh issue: Rs 175 crore

• Tentative allotment date: Aug. 22

• Tentative listing date: Aug. 26

• Face value: Rs 2 per share

• Issue type: Bookbuilding IPO

• Listing platform: BSE, NSE

Gem Aromatics intends to fulfill prepayment or repayment for all or a portion of certain outstanding borrowings. The company will also use proceeds for general corporate purpose.

Grey Market Premium for Gem Aromatics is at Rs 29 as of 11:38 a.m., as per details on Investorgain website. According to GMP, Gem Aromatics is expected to list at Rs 354 apiece, which implied 8.9% premium over issue price.

Gem Aromatics IPO was subscribed 6.78 times as of 12:27 p.m., on Thursday.

• Qualified Institutions: 2.16 times

• Non-Institutional Buyers: 14.59 times

• Retail Investors: 5.96 times.

• Employee portion: Nil